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is still considering and still probing with the white house the possibility of a big deal that would be nearly $4 trillion in deficit reduction and include $800 billion in added tax revenues over the next ten years. if he goes this route, i am told he will face a revolt from hisis republicans in the house including his fellow leaders eric cantor and kevin mccarthy. this would be a very risky move by the speaker but i'm told he is still considering it. >> treasury secretary tim geithner joins me now. he would have to manage the chaos if the united states defaults for the first time in history. secretary geithner, thank you for being here. well, you just heard whaha jonathan said about what's on the table. is it possible that there will be a framework deal in place by 4:00 p.m. this afternoon? >> i hope so. again, both leaders recognize they're running out of time. they need to get this process moving in the house by monday night to achieve that deadline. they need to have a framework that they know with complete confidence will pass both houses of congress and is acceptable to the pre
. you ready for lower humidity warmup? another big the [ female announcer ] welcome to busch gardens williamsburg, where d.c. goes to get away. maybe it's because washington d.c. loves the legendary coasters. or that your entire family will have fun, even the little ones. it could be that water country usa has more of the waves, slides and rides everyone wants. so plan your getaway and come play. you never know who you'll run into. get started at buschgardens.com/dc. >> there's no choice. no alternative. failure is not an option. >> straight ahead, the deficit show down count down. where we stand with one week left. good morning, washington. it's monday july 25. thank you for waking up with us. >> we begin with traffic and weather every 10 minutes. we have the first check of a pretty hot forecast out there. >> heat and humidity back in. 81 degrees. this is the coolest we've been for a morning temperature since thursday. 76 at dulles. looking at the heat index. it feels like 88 this morning downtown. we are looking for a cold front. moving into the evening hours allowing for some thun
. >>> are other big story, a nation on the brink. lawmakers have little more than a week to raise the spending limits and cut the deficit. >> with no deal, both sides are preparing back up plans and international markets are reeling. philip stewart is live on capitol hill with the latest. >> good morning. the house speaker is expected to release his plan today. already the debate this morning is focusing not just on the taxes and spending that we have heard so much about, but on how long the plan would last. this morning house speaker john boehner was focusing on a short- term approach, cutting spending by $1 trillion and raising the debt ceiling by about the same. >> i would prefer to have a bipartisan approach to solving the problem. if that's not possible, i and my republican colleagues in the house are prepared to move on our own. >> his plan only allows the government to pay bills three early next year. if >> a short-term extension to the debt ceiling will jeopardize our economy. the speaker is ignoring the warning. >> senator patton minority leader and -- the senate minority leader, harr
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